Recently asked questions about conveyancing in Ammanford

I am 3 weeks into the sale of my house in Ammanford and the EA has just text me to advise that the purchasers are switching property lawyer. The reason given is that the bank will only deal with solicitors on their approved list. Why would a major lender only engage with specific solicitors rather the firm that they want to choose to handle their conveyancing in Ammanford ?

UK lenders have always had panels of law firms they are willing to work with, but in the last few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.

Banks point to the increase in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.

I am purchasing a property without a mortgage in Ammanford. I have been residing for the last twelve years in Ammanford. Conveyancing searches are a lot of money. As I have knowledge of the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?

Provided that you do not need a mortgage, then all but one or two of the Ammanford conveyancing searches are non-obligatory. Your lawyer will 'advise', perhaps strongly, that you should have searches done, but he has a professional duty to take that path of encouragement . Do bear in mind; if you are going to dispose of the house in the future, it could be of relevance to your future buyer what the searches disclose. Sometimes houses with day to day issues can still show up unexpected search results. A good conveyancing solicitor in Ammanford will provide you some practical guidance here.

We are buying a newly converted flat in Ammanford with a mortgage from Lloyds TSB Bank.We like our Ammanford conveyancing solicitor but Lloyds TSB Bank says his firm is not on their approved list of firms. We have to appoint a Lloyds TSB Bank panel solicitor or keep our local solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?

Unfortunately,no. The loan issued to you is subject to its various provisions, a common one being that solicitors needs to be on the Lloyds TSB Bank approved list. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Lloyds TSB Bank

Have just purchased a probate house at auction in Ammanford. Conveyancing is necessary. What is next?

Now that you have to in every practical sense signed on the dotted line you will need to appoint a conveyancing solicitor soon as you now have a pending a drop dead date to complete the property. Every auction property will have a corresponding auction set of papers. This should include the copy title deeds, local authority and drainage searches. In the case of leasehold premises the legal papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to leasehold premises. You must give this to the lawyer instructed by you at the earliest opportunity. You also need to ensure that that you have the requisite funding in place to complete the transaction on the set completion date.

I am purchasing a property in Ammanford. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Santander be concerned?

As your lender is Santander your lawyer must check the formal instructions contained in Section two of UK Finance Lenders’ Handbook for Santander. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Santander where a lease does not meet these provisions. The specifications relate to the installation of panels on properties nationwide and is not restricted to Ammanford.

I have a mortgage with Nationwide for my property in Ammanford. Conveyancing has been completed some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nationwide?

Nationwide must be informed of your intention before letting out your property as this is likely to be a breach of Nationwide’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nationwide directly. It should not be necessary to do this via a Nationwide conveyancing panel solicitor.

I am looking for a conveyancing practitioner in Ammanford for my sale. Can I review a firm’s record with the legal regulator?